China tells G20 to keep its hands off the yuan
None
China told the rest of the world on Friday not to meddle with the way it manages the yuan, calling the exchange rate a sovereign matter for it alone to decide. Beijing is under pressure from Washington to let the yuan rise in value to help reduce the large US trade deficit with China, and markets are expecting the issue to come up at next week's Group of 20 summit in Canada.
"The RMB is China's currency, so I don't think it is an issue that should be discussed internationally," Cui Tiankai, a vice foreign minister who is China's G20 sherpa, the official in charge of preparing for the summit, said. (Reuters)
